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Usdchfforecast

USDCHF testing major resistance, time to start sellingSell below 0.9732. Stop loss at 0.9811. Take profit at 0.9614. Reason for the trading strategy (technically): Price is now testing major resistance at 0.9732 (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance, bearish divergence) and we expect a strong reaction off this level for a further drop to at least 0.9614 support (Fibonacci extension, horizontal swing low support). RSI (34,5,3) is seeing bearish divergence vs price signalling that a strong reversal is impending.
Short
by MEX_Exchange
USDCHF profit target reached, time to turn bearishSell below 1.0136. Stop loss at 1.0116. Take profit at 1.0071. Reason for the trading strategy (technically): Price has bounced up perfectly as expected yesterday and has reached our profit target. We turn bearish closing off our profitable bullish position because of the changing elements. We now look to sell below 1.0136 resistance (Fibonacci extension, Fibonacci retracement, horizontal resistance) for a push down to 1.0071 support (Fibonacci retracement, horizontal swing low support). Stochastic (21,5,3) is seeing major resistance below the 95% level.
Short
by theforexarmy
USDCHF turn bullish with long term resistance brokenBuy above 0.9958. Stop loss at 0.9900. Take profit at 1.0044. Reason for the trading strategy (technically): Price has broken our long term descending resistance-turned-support line signalling a change in momentum to bullish. We turn bullish above 0.9958 support (Fibonacci retracement, horizontal overlap support, pullback support) for a push up to 1.0044 resistance (Fibonacci retracement, swing high resistance). RSI (55) has made a bullish exit similar to the one seen in price and is also above ascending support.
Long
by theforexarmy